Authy

Authy provides a robust two-factor authentication (2FA) platform, operating as a subsidiary of Twilio. Founded in 2011 by Daniel Palacio, the company originated in Bogota, Colombia, before relocating to San Francisco. Palacio, a security-conscious engineer, was motivated to create Authy after growing disappointed with existing security products that lacked user-friendly design. He aimed to build a platform focused on making strong authentication simple and accessible for everyone.

The company's primary offering is an API that allows developers to integrate 2FA into their websites and applications, thereby protecting end-user accounts from unauthorized access. Authy's business model is centered on this developer-focused approach. While the Authy authenticator app is free for individual users, the company generates revenue by charging the businesses that implement its API. Pricing is usage-based, determined by the number of successful authentications and any associated SMS or voice delivery costs.

Authy's service functions as a more secure alternative to traditional passwords. Key features of the platform include support for time-based one-time passwords (TOTP), push notifications for one-click approval, and secure cloud backups of 2FA tokens. These backups allow users to synchronize their accounts across multiple devices—including phones, tablets, and desktops—and restore access if a device is lost or stolen. The app can also generate authentication codes offline, removing dependency on an internet or cellular connection.

After participating in the Y Combinator accelerator program in Winter 2012, Authy secured seed funding from investors like Salesforce Ventures, Y Combinator, and Winklevoss Capital. On February 23, 2015, Twilio acquired Authy for approximately $6.1 million in a deal consisting of cash and stock. The acquisition integrated Authy's identity expertise with Twilio's global communications infrastructure, aiming to accelerate the adoption of strong authentication services worldwide.

Keywords: two-factor authentication, 2FA, API, cybersecurity, user authentication, identity management, developer tools, mobile security, password alternative, account security, Twilio, push notifications, TOTP, secure login, phone verification, cloud backup, multi-device sync, offline authentication, user identity, developer API